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Daily Market Update 04 Mar 2021

EURUSD

HIGH

1.20661

LOW

1.20433

BID

1.20538

ASK

1.20543

CHANGE

0%

TIME

09:22:47

OUTLOOK SUMMARY

Down

TREND CONDITION

Downward
penetration

TRADERS SENTIMENT

Bullish

IMPLIED VOLATILITY

Medium

MARKET ANALYSIS – Intraday Analysis

Upwards scenario: Downside structure remains in focus, however break of our initial resistance at 1.2065 (R1) could enable recovery process and suggest next interim aim 1.2101 (R2). Final resistance is seen today at important fractal level – 1.2136 (R3). Downwards scenario: Our next support level is placed at 1.2029 (S1). Clearance here might stimulate bearish market participants to drive market price towards to our initial target zone from 1.1991 (S2) onto 1.1953 (S3) price levels.

Resistance Levels: 1.2065, 1.2101, 1.2136

Support Levels: 1.2029, 1.1991, 1.1953

 

GBPUSD

HIGH

1.39663

LOW

1.39205

BID

1.39579

ASK

1.39586

CHANGE

0%

TIME

09:22:47

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Session high provides a resistive barrier at 1.3972 (R1). Violation here is required to provide a signal of further ascending structure evolvement and suggest next intraday targets at 1.4006 (R2) and 1.4040 (R3). Downwards scenario: Successful retest of our next support level at 1.3936 (S1) might provide sufficient momentum for the price acceleration towards to interim target at 1.3896 (S2) and then final aim for today could be exposed at 1.3858 (S3).

Resistance Levels: 1.3972, 1.4006, 1.4040

Support Levels: 1.3936, 1.3896, 1.3858

 

USDJPY

HIGH

107.170

LOW

106.963

BID

107.156

ASK

107.161

CHANGE

0%

TIME

09:22:47

OUTLOOK SUMMARY

Up

TREND CONDITION

Upward
penetration

TRADERS SENTIMENT

Bearish

IMPLIED VOLATILITY

Medium

Upwards scenario: Further positive bias development would face next resistive measure on the local high 107.17 (R1). If the price manages to overcome it we would suggest next intraday targets at 107.42 (R2) and 107.67 (R3). Downwards scenario: An evidence of possible recovery action could be provided if the pair manages to surpass key support level at 106.96 (S1). In such case we would suggest next intraday targets at 106.73 (S2) and 106.51 (S3).

Resistance Levels: 107.17, 107.42, 107.67

Support Levels: 106.96, 106.73, 106.51

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